Red Hat jumps 13%, tops $100 for first time since 1999

Red Hat jumps 13%, tops $100 for first time since 1999

Red Hat jumps 13%, tops $100 for first time since 19992017-06-252017-06-26http://businessnc.com/wp-content/uploads/2018/05/bncweblogoblacksmall_space-01.pngBusiness North Carolinahttp://businessnc.com/wp-content/uploads/2018/05/bncweblogoblacksmall_space-01.png200px200px

Red Hat was formed in 1993 by Bob Young, who wanted to democratize software development. The company has proven since then that it also can make lots of money: The stock market now values the company at more than $17 billion.

These were the best performers included in the Capital Investment Cos./Nottingham Index of public companies for the week ended June 23 among companies with shares trading for at least $10.

Red Hat (RHT) 13.2% — $99.42— Raleigh-based software company had a great first quarter with revenue gaining 20% from a year earlier. Stock is up 35% in the last year. Topped $100 for first time since 1999 tech bubble.

LendingTree (TREE) 7.2% – $182.05 — Charlotte-based online marketplace is on fire with shares gaining 135% in the last year. Company has made two acquisitions totaling about $70 million in last two weeks to broaden its offerings.

Biggest decliners:

SPX Flow (FLOW) (-6.4%) – $36.21 — Among the state’s most volatile stocks, the Charlotte-based industrial-products manufacturer has gained 32% in the last year.

Bojangles’ (BOJA) (-6.2%) – $15.85 — Charlotte’s favorite chicken-and-biscuit chain trades at near record low since May 2015 initial public offering. Eight of 13 analysts rate it a buy. Enterprise value is about $900 million.